The Palm Oil Market is expected to grow from USD 58.719 billion in 2025 to USD 71.304 billion in 2030, at a CAGR of 3.96%.
Palm oil can be used both in crude form as well as in refined form. Only one-quarter of the palm oil and palm kernel oil worldwide is used as crude oil. In Southeast Asia, Africa, and parts of Brazil, crude palm oil is widely used for domestic cooking (source: EUROPEAN PALM OIL ALLIANCE). Also, palm oil is used as one of the ingredients in bakery products, confectioneries, and many other products. Palm oil is grown in the continents of Asia, Africa, and South America.
The demand for edible oils has strongly increased, and the palm oil plantations have also significantly increased in order to fulfill the emerging global demand. Moreover, growing health concerns regarding the health benefits of consuming palm oil and increasing application of crude palm oil are further expected to drive the market during the forecast period. However, environmental concerns regarding deforestation are expected to restrain the growth of the palm oil market during the next five years.
DRIVERS
Growing health concerns regarding the benefits of consuming palm oil.
Increasing adoption of crude palm oil.
RESTRAINTS
Growing environmental concerns.
The major players profiled in the palm oil market include Carotino Group (JC Chang Group of companies), Yee Lee Corporation Bhd., Innovans Palm Industries Sdn Bhd, Able Perfect Sdn Bhd, Sarawak Oil Palms Berhad, Hayel Saeed Anam Group of Companies, Green Ocean Corporation Berhad, Muhibah Palm Product Sdn Bhd, Cargill, Incorporated, Wilmar International Ltd.
Palm Oil Market Segmentation
The palm oil market has been analyzed through the following segments: